Bank’s role crucial in providing financial benefits of schemes: MP Bommai

Bengaluru Express
Gadag, Feb. 22:
The role of bank employees is crucial in ensuring that the financial benefits of various government welfare schemes reach eligible beneficiaries and they must cooperate with the public and facilitate these benefits, said former Chief Minister and Member of Parliament Basavaraj Bommai.

He was presiding over the Lead Bank’s DLRC/DCC meeting held at the Deputy Commissioner’s office on Friday.

The MP said banks should support the economically weaker sections in achieving financial self-sufficiency. There should be no unnecessary delays in providing financial benefits under the schemes. If beneficiaries are illiterate, they should be properly guided to avail the benefits. It is mandatory for all bank officials associated with the Lead Bank meetings to attend. The necessary steps must be taken to increase the credit-deposit ratio. Banks that achieve 100% of their financial targets will be awarded certificates of appreciation.

The former CM said applications received for various financial assistance schemes should be processed as quickly as possible. The success of the PM SVANidhi scheme depends on it. The bank officials and staff must address public grievances in a manner that enhances trust in the banking system. Microfinance institutions must strictly adhere to government regulations and should act with humanity while recovering loans.

Lead Bank Manager Santosh M.V. said that the Lead Bank operates 182 branches in the district. As of December 2024, the district’s credit-deposit ratio stands at 95.94 per cent . All bank regulatory officers have been directed to improve this ratio in their respective branches.

Under the current annual loan plan, as of December 31, 2024, a total loan of Rs 3,55,753.07 lakh has been disbursed in priority sectors, including agriculture. The taluk-wise loan distribution (in lakhs) is as follows: Gadag – Rs 1,39,477.48, Gajendragad – Rs 19,644.04, Laxmeshwar – Rs 18,247.06, Mundargi – Rs 35,779.63, Naragund – Rs 41,351.17, Ron – Rs 68,664.84, Shirahatti – Rs 32,588.85.

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